My wife and I both 'moonlight' as contractors for a web design outfit. Does this mean that we qualify for the SEP-IRA?Assuming you're self-employed, yes. Are we only allowed to contribute out of the proceeds from our self-employed income, or can we contribute from our main job's income as well?Your maximum SEP contributions are based solely on your net incomes from self-employment. You can't consider the other wages. Details are in IRS Publication 560.TMF ExROPhil Marti
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